Insurance companies like Geico have successfully convinced many consumers that the only difference between insurance companies is price, so you might as well go with the cheapest one! The commercials are real entertaining. After all who doesn't find that Lizard cute. They spends over 1 billion a year in advertising. You hear the message several times a day. But is going it alone really the best way to go? The reality is you are at a dangerous disadvantage when you do it yourself. These disadvantages could cost you dearly. After all, you are protecting assets that are very valuable like your home, cars and businesses. Here are my top 5 reasons you need an insurance agent:
- You really do need an expert on your side: Consider this, you buy insurance once every few years. Do you know what all the coverages are and why they might be important? Pop quiz; What is Personal Injury Protection? What's it used for and why is it important? The average person doesn't know the answer to these and many other coverage questions that are on the policies. How are you expected to select what right for you and your family if you don't know what your selecting? (Answer: Personal Injury Protection also known as "No Fault" insurance is an extension of your auto policy that will protect you and your passengers if they are injured in an auto accident regardless of who is at fault)
- You need somebody on your side when you have a claim. You have a claim less often than you shop for insurance. The insurance company handles claims every day! Insurance is a complex contract written by attorneys. The job of the insurance company is to pay as little as possible. If you're doing it yourself, who do you think has the advantage? An insurance agent has expertise in claims. We also handle them everyday and have seen almost every kind of claim.
- One size does not fit all: If you go to Geico, you will get Geico. If you go to Progressive, you will get Progressive. The truth is, one insurance company cannot fit the needs of every consumer. What if you have had claims, own an fancy sports car or live near the water? These are all underwriting considerations that some insurance companies will accept while others will not. An independent insurance agent represents several companies that can match your needs with the right carrier.
- Independent agents can get competitive prices: Yes, those direct writers are always saying things like "15 minutes can save you 15%" The truth is insurance agents have at their disposal a number of companies that they can quickly compare and get you the best price. We also have more tools than the direct writers like multi policy discounts.
- Personal Relationships: Call a direct writer. I dare you to talk to the same person twice! As with you doctor, lawyer or butcher, you will be able to form a personal relationship with your insurance agent. Why is this important? Because almost any major life event has insurance implications. For example, you just got married, you just got divorced, your kids went away to college. All of these events could have serious coverage implications if ignored.
So what have we learned? 15 minutes can save you 15%? Perhaps. But if you don't have an insurance agent in your corner, it could cost you a lot more! Want to talk to an insurance professional? Give us a call at 888-998-9801 or go to our website at www.brookswaterburn.com